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Dec 3, 2012
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spain has been doing okay. for as long as i can continue, there isn't really any prospecs of spain asking for help. but i think the market knows that if spain does ask for help, there's always the back stop of the omt and that's why spain is doing what it's doing. so so far so good. >> starting to get ahead of a heavy 2013 program. will that throw out problems? >> i think they're pursuing the right strategy. the big difference on this front between italy and spain is that italy has a big fall in redemptions next year when it takes off pressure for sly flex year. spain has the opposite problems, a rise next year. so it's technically done for this year and the reason it's funding is to take some of the pain away from next year. and again these options get done and it isn't a big drama. they do have to get digested. but the primary dealers do take the bontds down and i'll expect no difference different on wednesday. >> so for the moment, no pressure relatively speaking. and yet we're now looking at the downgrades
spain has been doing okay. for as long as i can continue, there isn't really any prospecs of spain asking for help. but i think the market knows that if spain does ask for help, there's always the back stop of the omt and that's why spain is doing what it's doing. so so far so good. >> starting to get ahead of a heavy 2013 program. will that throw out problems? >> i think they're pursuing the right strategy. the big difference on this front between italy and spain is that italy has...
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Dec 10, 2012
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the ibex 35 in spain, down almost 1.5%. we can take a quick look there.f investors are rotating out of the periphery. italy and spain, moving higher. bund is below 1.3% as a result. italian shares are trading lower. banks stocks particularly hard hit on the back of political uncertainty generated by mario monte's position to resign from his post as prime minister. his departure is likely to lead to an early election in february. monte's predecessor has announced his attention intengz to return to office. sylvia berlusconi says he'll seek a fifth term as italian premier. carolin is following this situation from rome. how likely is it that we see berlusconi return to politics next year? >> kelly, you know what? it's pretty unlikely. if you look at the latest polls, his pdl party, which is deeply fragmented, is trailing the biggest party, the pd party, but around 16%. it's going to be very, very tough. not even impossible for him to close that gap over the next two months. but i want to continue the discussion about what monti
the ibex 35 in spain, down almost 1.5%. we can take a quick look there.f investors are rotating out of the periphery. italy and spain, moving higher. bund is below 1.3% as a result. italian shares are trading lower. banks stocks particularly hard hit on the back of political uncertainty generated by mario monte's position to resign from his post as prime minister. his departure is likely to lead to an early election in february. monte's predecessor has announced his attention intengz to return...
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Dec 19, 2012
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if italy and spain have their own central bank, if italy and spain are borrowing in their own currency and the ecb is lender of last resort, those bonds look very attractive. if they're emerging market countries which borrowing in someonels's occurrenci which is real default risk -- someone else's currency which is real default risk, in terms of assurances it will be the back stop. but huge execution risk in terms of what the ecb will do next year. and more broadly in terms of longer term outlook, fiscal and banking union. >> especially because that success on dragy's front seems to have taken away support. andrew balls, head of portfolio management at pimco. thank you very much. >>> the wet summer in the u.k. could ruffle consumer feathers this festive season. turkey prices in britain up about 4% on the year. while vegetables will also have you dig deeper in your pockets. brussels sprout prices have shot up by a quarter. potatoes are roasting 43% more expensive. and speaking of christmas dinner, i did go down to the st. paul's branch of latali ' de chefs to find out there b expansion
if italy and spain have their own central bank, if italy and spain are borrowing in their own currency and the ecb is lender of last resort, those bonds look very attractive. if they're emerging market countries which borrowing in someonels's occurrenci which is real default risk -- someone else's currency which is real default risk, in terms of assurances it will be the back stop. but huge execution risk in terms of what the ecb will do next year. and more broadly in terms of longer term...
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Dec 13, 2012
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spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a rally. finally, let's close taking a look at the forex. euro/dollar is weaker. and it's holding just above 1.30. and the dollar/yen, this is the one sixuan mentioned to watch. heading into japanese elections, stocks outperform adding oots .1% to 83.35 this morning. >>> south korea's central bank may be worried about factors in the economy, but the dok says the economy is stronger than it used to be. more on that next. can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way t
spain, this will be a good proxy for now. we'll get the ten year for italy in just a second. 35.34% is the level there. u.s. benefiting from fund flows well. choppy trade across the picture here. let's look at the italian curve before we get the results later today. we are seeing green across the board, so yields dipping before that probably has more to do with the political rhetoric we're seeing especially coming from berlusconi. under 4.6% for the ten-year and on the short and two, a bit of a...
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Dec 18, 2012
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we're seeing spain and italy yields falling 5.4% or just under that level in spain. gilt in particular, if you look at the 1.92% level, this on the back of the inflation report which showed cpi up 2.7% year on year. forex, the euro/dollar was stronger earlier. we're seeing just a little bit to the up side. not too far off the 1.32 mark which is extraordinary. the sterling moving to a multi month high. 1.62. it's just over that level this morning, up .1%. >>> now, spain will keep a quick look -- take a quick look at the results from italy in this debt auction. we've got basically an offering of short-term bills, three month and six-month bills. the yields on that are still coming through. looks as though spain has sold about 11.5 billion in the three months and just shy of 2 billion in the six-month paper. the bid to cover ratios for both, let's see, at least the six month moving higher on the three month and more importantly, the yield on the three month. 1.373 versus 1% the last time around. still waiting on the yield for this six month. while we wait for that to co
we're seeing spain and italy yields falling 5.4% or just under that level in spain. gilt in particular, if you look at the 1.92% level, this on the back of the inflation report which showed cpi up 2.7% year on year. forex, the euro/dollar was stronger earlier. we're seeing just a little bit to the up side. not too far off the 1.32 mark which is extraordinary. the sterling moving to a multi month high. 1.62. it's just over that level this morning, up .1%. >>> now, spain will keep a...
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Dec 4, 2012
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bond market, yields still very contained for spain and italy. 5.2% yields in spain. italian yields slightly lower, 4.39. gilt you see currently just edging slightly higher. and on the currency markets, dollar index at a one month low. ism manufacturing not helping. dollar-yen therefore down to 82 and dollar is done against everything else, as well. apart from the swiss franc. let's show where you we stand with oil prices right now. we've got nymex trading at 89. present at 110. both of them fairly steady. what about the outlook? joining us is peter hunt at rbc. peter, good morning to you. so does oil stay in this sort of recent ranges for the foreseeable future? >> actually we think it is. it sounds like sort of the risk of complacency. something we challenge ourselves on quite regularly. but given the points about china demand and global gdp, we're still very cautious in terms of demand, but the issue for the oil markets is supply and there are still big movements going on there. i think over the last three months, you've seen a really sharp fall in the output from
bond market, yields still very contained for spain and italy. 5.2% yields in spain. italian yields slightly lower, 4.39. gilt you see currently just edging slightly higher. and on the currency markets, dollar index at a one month low. ism manufacturing not helping. dollar-yen therefore down to 82 and dollar is done against everything else, as well. apart from the swiss franc. let's show where you we stand with oil prices right now. we've got nymex trading at 89. present at 110. both of them...
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Dec 1, 2012
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youth unemployment in spain is 55%. there is not a good reason to own spanish bonds here. [ overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how that translates to this has all been fixed and this is all solved. it's not solved at all. [ overlapping speakers ] >> spain has about the same debt to gdp ratio as germany. that good enough for you? >> [ overlapping speakers ] >> hang on, fellows. let's not get hung up on spain. what i want to come back to is the usa. because our market has not collapsed, it's really different than it looks like it was back in 2011. i just want to ask, is it better to own those low-rate bonds right now? or jim la camp, i want you both to weigh in quickly. i
youth unemployment in spain is 55%. there is not a good reason to own spanish bonds here. [ overlapping speakers ] >> last time we were on together you were saying the world was going to end because greece was going to default and leave the euro. it's all over. europe's fine. just give it a break. that was last year's story. [ overlapping speakers ] >> europe is not fine. spain is in significantly worse position. they've taken on more debt into deteriorating economy. you tell me how...
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Dec 21, 2012
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5.3% for spain aren't bad considering. t thor row/dollar is weaker. most of the risk currencies are moving lower. euro/dollar down by .3%. sterling is weaker against the dollar. we're seeing the dollar generally up. the dollar/yen here up .4% for the yen. so we've seen some significant weakening as the bank of japan trying to combat deflation. but today, a pause in that move. joining us now with plenty more on the asian trade, diedra. >> it's not the end of the world, but it is pretty ugly out here in asia. markets were headed towards some gains today and then all of a sudden we did get that fiscal cliff set back. the nikkei 225 dropping a percent. you can see the dollar/yen hovering around 84. we were lower earlier on. this in south korea, the kospi shedding about 1%, as well. blame the politicians for their fiscal cliff negotiations or lack thereof. samsung electronics slumped 4%. it's that ongoing spat between samsung and apple. that weighed heavily on the kospi. now, in greater china, also some losses. the shanghai com
5.3% for spain aren't bad considering. t thor row/dollar is weaker. most of the risk currencies are moving lower. euro/dollar down by .3%. sterling is weaker against the dollar. we're seeing the dollar generally up. the dollar/yen here up .4% for the yen. so we've seen some significant weakening as the bank of japan trying to combat deflation. but today, a pause in that move. joining us now with plenty more on the asian trade, diedra. >> it's not the end of the world, but it is pretty...
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Dec 11, 2012
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we are not where we were two years ago, not only in spain, but in italy. one of the few countries in the eurozone where the share of international investors, but i think if we were to talk about the flows, we should be looking more at france than spain. >> france has canceled its last two treasury bonds for the year. read anything into that? >> no. i think it's a mert of issuing out the files until next year. and the treasuries overall role in terms of high visibility in terms of revenue streams, so they're just doing the job. i should say the italian treasury here is doing an excellent job over the years. >> the fed is beginning a two-day meeting today. the announcements come together. 12:30 eastern. the fed is expected to lunch a new bond bike program to replace the operation twist that expires at the end of this month, the goal to keep rates low, possibly soften the blow from any risk of the u.s. going over the fiscal cliff. but bernanke did warn last month that the fed couldn't offset that shock. how small is the risk that they don't deliver what credi
we are not where we were two years ago, not only in spain, but in italy. one of the few countries in the eurozone where the share of international investors, but i think if we were to talk about the flows, we should be looking more at france than spain. >> france has canceled its last two treasury bonds for the year. read anything into that? >> no. i think it's a mert of issuing out the files until next year. and the treasuries overall role in terms of high visibility in terms of...
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Dec 5, 2012
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so spain trying to get ahead of game. big issuance and redemptions next year. >>> in india, we're expecting a big battered parliament for retail reforms. the latest from new delhi. what kind of battle is it going to be? >> it's going to be a tough battle for the government here as it tries to push forward. currently we've got a heated discussion in the lower house of parliament. this matter will have to be discussed, debated and voted on in both houses of parliament. as for india's foreign exchange management rules, this will need to be cleared by both houses of parliament before it becomes the law of the land. as of now, all our political sources seem to indicate that the government is safe when it comes to the numbers in the lower house of parliament, but it's looking uncertain and shaky when it comes to the register but for the upper house of parliament. most political parties who are in opposition have stridently opposed retail saying it will kill the small retailer in india, it's going to be aunt consum -- anti-consu
so spain trying to get ahead of game. big issuance and redemptions next year. >>> in india, we're expecting a big battered parliament for retail reforms. the latest from new delhi. what kind of battle is it going to be? >> it's going to be a tough battle for the government here as it tries to push forward. currently we've got a heated discussion in the lower house of parliament. this matter will have to be discussed, debated and voted on in both houses of parliament. as for...
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Dec 27, 2012
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italy and spain, we're seeing the ten year at 4.5%. spain, 5.29 the%. yesterday we saw a bit of a comeback, but it's forex where we're seeing moves. the euro/dollar adding .3%. so 1.327 68 is the level there. the dollar/yen rising closer to that 86 level this morning. here is a quick peek at what's on the agenda in the u.s. weekly jobless claims at 8:30 eastern. at 10:00 a.m., we'll get december consumer confidence. this is one to watch. analysts are looking for a reading of about 70, down four points from last month. at 10:00, it's new home sales. now, the latest report says this holiday season has been the worst for u.s. retailers since the beginning of the financial crisis. we'll walk through those figures and the impact for retailers when we come back. >>> there are frustrations in markets that politicians haven't taken advantage of the breathing space that the extraordinary measures have afforded them. that view was shared by former ecb chief jean-claude trichet who has been speaking exclusively to cnbc. >> it's not new, of course, that the central
italy and spain, we're seeing the ten year at 4.5%. spain, 5.29 the%. yesterday we saw a bit of a comeback, but it's forex where we're seeing moves. the euro/dollar adding .3%. so 1.327 68 is the level there. the dollar/yen rising closer to that 86 level this morning. here is a quick peek at what's on the agenda in the u.s. weekly jobless claims at 8:30 eastern. at 10:00 a.m., we'll get december consumer confidence. this is one to watch. analysts are looking for a reading of about 70, down four...
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Dec 28, 2012
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. >> what's your view on spain? the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the other hand, you have unit labor costs which have been diminishing quite a lot and the exports of spain are very dynamic today. so it also demonstrates that hard work is being done. it's difficult. it's tough, but going in the right direction. i trust that the global observers are observing progressively and the adjustment is proceed. in spain and in all the countries that are under adjustment. >> now, lonmin's ceo ian farmer is stepping down while being treated for a serious illness after being first
. >> what's your view on spain? the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five,...
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Dec 12, 2012
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. >>> coming up in the program, spain's biggest export. an analyst who says shoppers are ready to spend. >>> and the vice president hugo chavez's cancer operation that was successful. heel be in miami to speak -- we'll be in miami to speak to an an lifted who talks about the transition of power. >>> plus, joined in studio by the ceo of japanese merchandising giant sanrio. what will the man in charge of -- yes -- hello kitty have to say about holiday spending? that's at 5:20 eastern. 11:20 central/european time. >>> u.s. budget talks have intensified. president obama and house speaker john boehner spoke by phone tuesday after exchanging new proposals. aides confirm the president gave boehner a revised offer on monday, reducing demand for new tax revenue from $1.6 trillion to $1.4 trillion over the next decade. boehner responded with a plan that largely sticks by his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal which it hasn't put on the table b
. >>> coming up in the program, spain's biggest export. an analyst who says shoppers are ready to spend. >>> and the vice president hugo chavez's cancer operation that was successful. heel be in miami to speak -- we'll be in miami to speak to an an lifted who talks about the transition of power. >>> plus, joined in studio by the ceo of japanese merchandising giant sanrio. what will the man in charge of -- yes -- hello kitty have to say about holiday spending? that's...
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Dec 6, 2012
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spain will have 4% stake. which means european government will no longer have their say in running the company. apart from strategy differences, they will no longer be able to name board members and they won't have veto rights anymore on commercial decisions. but the new government rules won't take effect up mid 2013 at the earliest because the shareholders will immediate to vote on that new governance and share holding structure. for the french government, it currently has 15% stake, so basically it will put a part of his stake in a trust fund and will have to give up the voting rights. held have to buy 12% from daimler. and they've decided to sell 7.5%. 61 million shares. it's been announced just a few minutes ago. >> has anybody spoken to angela merkel to see whether she's happy with this? >> apparently both governments say they're happy with this decision. but -- >> after the last time when they didn't bother to check with the german chancellor and assured us that it was all fine. i just wonder if that's d
spain will have 4% stake. which means european government will no longer have their say in running the company. apart from strategy differences, they will no longer be able to name board members and they won't have veto rights anymore on commercial decisions. but the new government rules won't take effect up mid 2013 at the earliest because the shareholders will immediate to vote on that new governance and share holding structure. for the french government, it currently has 15% stake, so...
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Dec 17, 2012
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. >> spain? >> for sure. >> when? >> probably in the second quarter. >> that's an interesting idea, all at once. david owens from jeffries, thank you so much for stopping by. >>> straight ahead, economic policies for next year and what is in store for markets if it mean slower, short-term growth? can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground at fedex of. >>> shinzo abe wastes no time on calling on the bank of japan to ease interest rates. >>> get a little, give a little. reports say john boehner may be willing to raise the tax rates on the rich if president obama raises the cuts. >>> and corporate news weighs on sentiment in europe. kpn shares fall as the dutch telecom group scraps the divide dividend. >>> okay. we're into new trading week here. the xetra dax and the french marke
. >> spain? >> for sure. >> when? >> probably in the second quarter. >> that's an interesting idea, all at once. david owens from jeffries, thank you so much for stopping by. >>> straight ahead, economic policies for next year and what is in store for markets if it mean slower, short-term growth? can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you...
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Dec 20, 2012
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it's still going to be quite potent there in places like spain. but overall, as the western economies, it's likely to be a lesser force than it has been in the last couple of years. we also then have to consider what i'd call the tailwinds. most obvious about those is the monetary stimulus. we just had the news out today from the bank of japan. it's looking to get its purchases up to 101 trillion yep by tend of next year, up from 67 trillion yen at the moment. that's a vast expansion as we share with japanese gdp going from 14% to 21% from the end of this year t to end of next year. as well, we think the fed will be very aggressive by 85 billion dollars of securities a month until june and then it will fade out to substantial pace a month. so there's quite a lot of monetary stimulus coming there from the fed and the bank of japan particularly. that should be a positive environment for financial assets. financial assets, as well, being helped by the governance and the structural economic reform that are emerging by the way europe is taking more ste
it's still going to be quite potent there in places like spain. but overall, as the western economies, it's likely to be a lesser force than it has been in the last couple of years. we also then have to consider what i'd call the tailwinds. most obvious about those is the monetary stimulus. we just had the news out today from the bank of japan. it's looking to get its purchases up to 101 trillion yep by tend of next year, up from 67 trillion yen at the moment. that's a vast expansion as we...
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Dec 11, 2012
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is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could put neighboring pressure on spain. the main thing to keep an eye on here is whether spain comes back into the markets cross hairs. we saw today an auction go up reasonably well. we're looking for the country still needing to raise significant amounts of money into the new year. and in a final reminder of the ten ewe yigz situation, greece had to extend the time frame of its own buyback of debt to the end of today. for the most part, despite these gyrations and despite berlusconi accusing monti of bad policy, markets are shruggedel it off after serious losses yesterday. the way it's clear for attention to be focused, i will say, on the fiscal cliff in the u.s. today. >> yeah. italy is important. it's a big economy. we don't -- you know, compared to what's going on over here -- >> i missed mario monti on vacation. >> you miss
is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could put neighboring pressure on spain. the main thing to keep an eye on here is whether spain comes back into the markets cross hairs. we saw today an auction go up reasonably well. we're looking for the country still needing to raise significant amounts of money into the new...
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Dec 3, 2012
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i don't really get many questions or have many debates about greece or spain anymore. i think there's definitely a back burner element to what's going on in europe as people focus whether it happens on january 1st or not on the fiscal cliff. >> let me follow up with that real quick. here's the thing -- the greek situation, which was driving the market negativity a few months ago, is the same, roughly, as it was then. but yet we've conveniently forgotten about it because the fiscal cliff. >> i don't think is that people forgot about it. the ecb has gone a long way toward mitigating tail risk across the region, lowering volatility. as intention has increasingly focused on spain and italy, i think people at this point have pretty much written greece off. i think there is still a widespread belief following the german elections that debt burden is going down in the official sector, just a matter of how much. >> gina sanchez, this is live tv of course. good to have you back up and running. we have climbed the wall of worry many, many times. quite often when we climb that wa
i don't really get many questions or have many debates about greece or spain anymore. i think there's definitely a back burner element to what's going on in europe as people focus whether it happens on january 1st or not on the fiscal cliff. >> let me follow up with that real quick. here's the thing -- the greek situation, which was driving the market negativity a few months ago, is the same, roughly, as it was then. but yet we've conveniently forgotten about it because the fiscal cliff....
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Dec 14, 2012
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whether it's the bund or even yields in spain are falling as prices rise a little bit. so there is light at the end of the tunnel according to our next guest. he says the global economy is close to reaching its weakest point before recovery sets in. he's robert cohen, chief equity strategist. woke. >> good morning. >> we just heard rob doddson talking through some of these results. unfortunately, we saw some signs of weaker demand, especially global demand in these reports. but perhaps what is consistent with what you're saying, why is it your view that that is going to happen? >> sometimes you need to pull away. you move away from the fundamentals a little bit on the month to month improvements. if you look at 2013 as a whole, the big headwinds you've had in a number of years, fiscal austerity is largely the sarp in europe year on year. 2014, that comes up quite quickly. 2013 is largely going to be the final year of the crushing deleveraging if you like on the european banks. so essentially the whole theme of the aurm is 2014 should credibly be the first recovery year
whether it's the bund or even yields in spain are falling as prices rise a little bit. so there is light at the end of the tunnel according to our next guest. he says the global economy is close to reaching its weakest point before recovery sets in. he's robert cohen, chief equity strategist. woke. >> good morning. >> we just heard rob doddson talking through some of these results. unfortunately, we saw some signs of weaker demand, especially global demand in these reports. but...
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Dec 3, 2012
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the tensions are easing in this italy and spain. let's show where we are, in spain, for example. you see the way in which the yields are down there. again, the spanish market is rallying. jpmorgan believes the rally and peripheral bond markets will continue because institutions will be forced into the core, because it's expensive not to be invested there. if you like. and at the same time, because they think that -- actually, yields at this level are still too high for the ecb. don't fight the ecb, is the message from jpmorgan. buy where we are at the moment. let's show where we are on italian debt. and you'll see again the yields have fallen in milan. there you go. and if you look at the spread, the difference between italian debt and german debt, that fell below 300 basis points today for the first time since march. into the fray, and i think this is very important. jim o'neill at goldmans on cnbc today, did you catch it, he thinks because of the fiscal cliff here in the united states, increaseingly investors are moving into europe. check out what he had to say. >> i detect mor
the tensions are easing in this italy and spain. let's show where we are, in spain, for example. you see the way in which the yields are down there. again, the spanish market is rallying. jpmorgan believes the rally and peripheral bond markets will continue because institutions will be forced into the core, because it's expensive not to be invested there. if you like. and at the same time, because they think that -- actually, yields at this level are still too high for the ecb. don't fight the...
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Dec 10, 2012
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spain down also. mario monti announcing he will resign as prime minister having lost the support of silvio berlusconi's majority in parliament. so how bad is the political crisis? well, the sort of analysis we're getting out at the moment, certainly from jpmorgan, saying concerns may be overdone at this stage. you know, mario manatee may declare himself as a candidate for that earlier election. he could align himself with a later party and he could come back in some form of coalition. if not, people are saying look, the leader is also pro-austerity. silvio berlusconi is not going to end up running italy. i think perhaps a bigger issue at this stage, and this is from deutsche bank whether the virtual intervention we've had, the ecb saying we will intervene if we have to, may now be wearing a little bit thin. there is a knee-jerk reaction. the italian banks, they're all down. they're clogging up the bottom of the stock 600 in europe. so the banks have fallen. some of the industrials have also been marke
spain down also. mario monti announcing he will resign as prime minister having lost the support of silvio berlusconi's majority in parliament. so how bad is the political crisis? well, the sort of analysis we're getting out at the moment, certainly from jpmorgan, saying concerns may be overdone at this stage. you know, mario manatee may declare himself as a candidate for that earlier election. he could align himself with a later party and he could come back in some form of coalition. if not,...
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Dec 13, 2012
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>> everybody says spain will break up. they going bankrupt. >> doesn't the opportunity the greatest or something along those lines? >> blood in the streets. >> right. >> look. when you look at where we are cyclicly on earnings, when you look at where we are on valuations, spanish equities, real o really cheap. and the bottom line is that even today, as we hear positive news about the banking union, the europeans are begrudgingly and distressing structural issues. >> give us one crazy wild card idea for 2013. >> oh, i like that, i like that. >> you thought spanish stocks are in a crazy enough idea? >> no, that loco. we were crazy. not loco. >> boy, i tell you, i think the place to be is in precious metals. silver. >> silver as opposed to gold? >> silver is the beta trade. >> lead. >> i have been long lead. >> more economic? terms of a trade. >> the last question, which is the most important, your company owns part of the dodgers. >> mm-hm. >> how much are you spending this year? >> well we don't own the dodgers. we put the
>> everybody says spain will break up. they going bankrupt. >> doesn't the opportunity the greatest or something along those lines? >> blood in the streets. >> right. >> look. when you look at where we are cyclicly on earnings, when you look at where we are on valuations, spanish equities, real o really cheap. and the bottom line is that even today, as we hear positive news about the banking union, the europeans are begrudgingly and distressing structural issues....
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Dec 10, 2012
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we did see ten-year bond yields rise in italy and also in spain, because people tend to think of spain and italy together. so, there is a contagion factor here, as well. so -- >> walk us through the trade that you got. >> sure, so, i'd like to short the euro, but not against the dollar, because i think the dollar will stay weak until the fed meeting. i'm going to short it against the yen. i enter at 106.50, the current level it's trading. a target down at 104 and my stop is up at 107.50. >> all right, amelia, thank you. see you on friday. >> thank you. >>> let's check in with jane, see what's she's looking at next. jane? >> next, melissa, you have to ask yourself, how much do you love starbucks? do you really love it? and also, who should play john mcafee? preferably, someone who is living. we'll have some ideas when we come back. let's give thanks - for an idea. a grand idea called america. the idea that if you work hard, if you have a dream, if you work with your neighbors... you can do most anything. this led to other ideas like liberty and rock 'n' roll. to free markets, free enter
we did see ten-year bond yields rise in italy and also in spain, because people tend to think of spain and italy together. so, there is a contagion factor here, as well. so -- >> walk us through the trade that you got. >> sure, so, i'd like to short the euro, but not against the dollar, because i think the dollar will stay weak until the fed meeting. i'm going to short it against the yen. i enter at 106.50, the current level it's trading. a target down at 104 and my stop is up at...
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Dec 31, 2012
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among those closed include spain and germany. we're start with asia. shanghai composite is the outperformer. you saw up 1.6% there. here is a list of the markets closed across europe. germany, switzerland, germany and austria. for the bourses that are open, we can take a look at performance this morning and then we'll take a look over at the bond wall. the ftse 100 is down about .4%. ibex down .5%. not a clear picture. definitely mixed trade as people look to close out the year. the bond wall gives the sense for what kind of wall dominates. we're seeing bond yields move higher. investors are exiting the asset class today. italy around the 4.5% level. we've seen these predominant for several weeks and likely a quick check on forrus. the yen, an important one to keep an eye on, as well. dollar/yen firmer, continuing the patterns that we've seen over the last couple of trading sessions. for more on what to expect from markets today, we're joined by chris meyer, managing director and chief strategist from loop capital markets. chris, good morning. we wake
among those closed include spain and germany. we're start with asia. shanghai composite is the outperformer. you saw up 1.6% there. here is a list of the markets closed across europe. germany, switzerland, germany and austria. for the bourses that are open, we can take a look at performance this morning and then we'll take a look over at the bond wall. the ftse 100 is down about .4%. ibex down .5%. not a clear picture. definitely mixed trade as people look to close out the year. the bond wall...
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Dec 6, 2012
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spain is the immediate problem, you have 26% unemployment which is non-performing loans. >> we have to go, 2,200 pages of health care, i'm sure the notes spain's taken how greece has got money at every turn, their pile is a bigger pile than the health care plan. >> i could listen to you guys talk all day long. that was a great conversation. yra, rick, thanks so much. see you in a bit. >>> zynga stock popping. julia boorstin is live in l.a. with more. >> good morning to you, carl. this is the first of many steps before zynga can make money from online gambling. applying for a real money gaming license in nevada is a sign of zynga's seriousness creating new revenue streams. it sent it up as much as 9% higher today. the company warns it will take as much as a year and a half to get approval in nevada but the biggest step of all is a change in federal law, and if online gambling does become legal nationwide, zynga is sure to face some big competition from the casinos. zynga is struggling to sell virtual goods, hoping to cash in on games like texas hold 'em poker, that app and game has 34 m
spain is the immediate problem, you have 26% unemployment which is non-performing loans. >> we have to go, 2,200 pages of health care, i'm sure the notes spain's taken how greece has got money at every turn, their pile is a bigger pile than the health care plan. >> i could listen to you guys talk all day long. that was a great conversation. yra, rick, thanks so much. see you in a bit. >>> zynga stock popping. julia boorstin is live in l.a. with more. >> good morning...
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Dec 18, 2012
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and a t-bill auction in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key senators this morning. good mo
and a t-bill auction in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once...
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Dec 19, 2012
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. >> we're afraid spain is going to come -- spain was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why. the company will buy back at a premium to at least what was the market price as of yesterday, 200 million shares from the government at $27.50. that having the effect of sending the stock above that. why not, if you're gm, you've got all this cash sitting on your balance sheet. you're earning virtually nothing on it, why not take the opportunity, even at a premium, to buy it back by as much as 11%, shrinking the cap by that much. we heard from tim massad who runs t.a.r.p., they'll be dribbling out the shares over time. the next 12 to 15 months. similar to the strategy employed with citi. a bit of it
. >> we're afraid spain is going to come -- spain was supposed to come to market. italy, oh, my, what happens when italy -- it turns out you had to take it down. i know that john corzine, very controversial figure. that's a code word. but what a trade they almost had. in the news again today. >> almost. >> horseshoes, hand grenades. >> we should point out, gm was certainly not having the easiest of times of it. this morning's stock is up sharply, we're telling you why....
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Dec 14, 2012
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even though they're in a bit of a recession, a lost generation in spain, are they really fixed? we'll ask mark grant the tough questions bottom of the hour. , we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> facebook experiencing its fourth lockup today. today 160 million shares hitting the market. our next guest is an author of the book "the facebook era" clara shih the president of a company that has enterprises with large store networks on facebook linked in and other social networks. welcome back and good to see you again. >> good to see you. thanks for having me. >> i wonder what your take is short term on the lockup expiration. we've had it both ways this year. where some of the shorts are s
even though they're in a bit of a recession, a lost generation in spain, are they really fixed? we'll ask mark grant the tough questions bottom of the hour. , we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want...
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Dec 5, 2012
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we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to date. we are gripped by a similar hysteria about our own country. the fiscal cliff is like what they had in europe. we need to look for companies being obliterated by the cliff. banco santander was perceived to be the biggest loser. but it turned out to be an amazing trade. the stock traveled to $7.72. i don't think it's done. charitable trust is buying a major midwestern lender. stock has been sliding every day. key is now under $8 and i can tell from the trading in the name it is not going to happen just yet. there are sellers everywhere. the only thing the
we were terrified that spain and italy couldn't pay their bills. we knew these companies could not bring down taxes. it turns out that we were afraid that these bonds were bringing the whole world down and we should have been buying them. the europeans offered sensible plans and responsible governments stepped up to increase taxes and cut benefits. if you had been able to borrow a ton of money to buy them it would have doubled. it may have been the single best investment of the 21st century to...
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Dec 31, 2012
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cac and what's going on in spain, also up marginally. we haven't seen the kind of movement that some people had been talking about on this last day before the fiscal cliff would be reached. >> back to washington now, joe kernen and john harwood are joined by a very special guest. >> thanks, we'll get right to that, andrew. if you were in australia right now and you were a multimillionaire and got kicked in the head by a kangaroo and died, would you owe 55% on -- >> only if you were a u.s. resident? >> right. >> so if you're a u.s. resident and it happened right now you'd owe 55%. >> for anything over a million. >> are you over the cliff in australia right now? >> working at the u.s. embassy i presume. that's a good point. >> i wouldn't go anywhere near the kangaroo. >> u.s. time, baby. >> u.s. time zone counts. >> you sure? >> yep, 2013 in australia, john. >> doesn't matter. >> that's a foreign country, baby. >> i'm a thinking. >> in the embassy you would be under u.s. law, right? >> that's u.s. ground. >> u.s. time? >> the embassy -- >>
cac and what's going on in spain, also up marginally. we haven't seen the kind of movement that some people had been talking about on this last day before the fiscal cliff would be reached. >> back to washington now, joe kernen and john harwood are joined by a very special guest. >> thanks, we'll get right to that, andrew. if you were in australia right now and you were a multimillionaire and got kicked in the head by a kangaroo and died, would you owe 55% on -- >> only if you...
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Dec 31, 2012
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markets in europe mixed after a shortened session in the uk, france and spain. our road map starts right where we were months ago, waiting for the 112th congress to agree on a debt reduction package. the senate convenes at 11:00 a.m. >> the dow had its worst day in a month on friday. set to close december with a loss. the question is, does it continue to sell off if there isn't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in 21 months. can we finally say the chinese economy has been stabilized. >> but of course, we start in washington. as you know, congress comes back today. the house gaveling into session now with legislative business starting at 10:00 a.m. the senate returns at 11:00 a.m. eastern. there are only a few hours left to get a deal done. eamon? >> you're already hearing people talk the way they talk on new year's day. a lot of people wish they could go back in time and do things differently. that's the way people are talking in washington about this fiscal cliff. feeling as if this thing sud
markets in europe mixed after a shortened session in the uk, france and spain. our road map starts right where we were months ago, waiting for the 112th congress to agree on a debt reduction package. the senate convenes at 11:00 a.m. >> the dow had its worst day in a month on friday. set to close december with a loss. the question is, does it continue to sell off if there isn't an accord in congress. >> we will always have china. manufacturing pmi data from last night is the best in...
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Dec 27, 2012
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a tragedy really in spain. essentially 350,000 small shareholders you could argue, were conned to buying the bankia stock when the government owned it last year. they had products based on subordinate debt. we learned the bank's net worth is minus 4 billion euros. in other words, these 350,000 ordinary shareholder, ordinary bondholders will likely be wiped out by the recapitalization process and starts tomorrow when they get money from brussels and michele will be in to tell you the senior debt holders and whether they will be wiped out. that's what you call symphony on all the characters. michelle will pick that ball up and run with it later. >> it's a sad story, the last time those people will rally around the flag. >> really disappointing and a huge amount of anger in spain. >> thanks, simon. >> to bertha, still above 90 for crude. >> still above 90. we're almost across the board as the dollar has gotten a little bit stronger. a very interesting year. we're looking at the numbers, the first year you have wti
a tragedy really in spain. essentially 350,000 small shareholders you could argue, were conned to buying the bankia stock when the government owned it last year. they had products based on subordinate debt. we learned the bank's net worth is minus 4 billion euros. in other words, these 350,000 ordinary shareholder, ordinary bondholders will likely be wiped out by the recapitalization process and starts tomorrow when they get money from brussels and michele will be in to tell you the senior debt...
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Dec 12, 2012
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. >> remember when we used to talk about spain? italy? >> the good old days. spain was borrowing at 7%. >> germany went to the five-year high. we could have that, too. unlike them, our economy is not in tatters. they go five-year high on tatters. audi, good car. >> yes. good car. >> meantime, shares of costco this morning up in the premarket. warehouse retailer earned 95 cents a share in the first fiscal quarter. revenue, profit margins beating forecasts helped by rising sales. those higher membership fees did hike fees a year ago november, which doesn't happen very often. the journal today says, model looks great. the business is great. the stock is just -- people want to pay a lot of money for it, jim. >> oh, yeah, costco, those are remarkable numbers. i know you did an excellent special on coastco and it seems like the execution was impressive. people want to go there. >> as gas prices come down, that helps them, given they make it a bit of a loss leader. valuation rich for your blood. >> when you go to buy a house, you see kirkland more than any other bran
. >> remember when we used to talk about spain? italy? >> the good old days. spain was borrowing at 7%. >> germany went to the five-year high. we could have that, too. unlike them, our economy is not in tatters. they go five-year high on tatters. audi, good car. >> yes. good car. >> meantime, shares of costco this morning up in the premarket. warehouse retailer earned 95 cents a share in the first fiscal quarter. revenue, profit margins beating forecasts helped by...
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Dec 31, 2012
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announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> this is a live television feed from inside the white house. we are told the president will address the country shortly on the fiscal cliff. as we await what will be presumably a market address, let's start shuffling through where we are in a moment. we kick off with mary thompson on the floor of the new york stock exchange. mary? >> john harwood has been reporting throughout the morning and gifting lift throughout the day, the dow off 54 points and we are seeing gains in material stocks and also tech stocks getting a nice bid into today's session. you can see the gyrations in the broader mark
announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before...
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Dec 13, 2012
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now we're seeing prices in spain sell off a little bit. the ten-year, just under 5.4% is the level there. for the longer dated papers, investors are a little bit more wary. now, that news coming out of the euro group meeting, i wanted to show you the euro/dollar as we wrap up today's global market support. it's still down .1%, 1.3056. that would tell you that the resolution is largely priced in. now as focus moves into the start of next year, a couple of the key questions will be how much mario draghi follows ben bernan bernanke's caps, maybe even cutting into positive territory. expect to hear plenty more about that in the weeks to come. but for now, some resolution means this is front and center for these fiscal cliffs. back over to you guys. >> kelly, have your bookers called yet? do you know? have you tried to -- it may be better for you to call him directly instead of a booker. can you get him on? don't you want to interview him? he's very charming, too. >> look, maybe, joe, if you help us out. if we all ask nicely enough we can have
now we're seeing prices in spain sell off a little bit. the ten-year, just under 5.4% is the level there. for the longer dated papers, investors are a little bit more wary. now, that news coming out of the euro group meeting, i wanted to show you the euro/dollar as we wrap up today's global market support. it's still down .1%, 1.3056. that would tell you that the resolution is largely priced in. now as focus moves into the start of next year, a couple of the key questions will be how much mario...
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Dec 13, 2012
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>> right. >> spain. spain? buying bonds one form or another. le ends eventually. my dad had the guy. bill for the house we bought and a rate i used to marvel at when i tried to buy a house the first time in the '80s. we are at the gi bill rates the guys came back from the war. >> bob pisani is here this morning more on what's moving. hey, bob? >> let you know about an ipo pricing down here, pbf energy here operation 20.5 million shares at 26. this looks ready to open at 28. the book is frozen right now so that means that the -- the specialist you can the dmm here has indicated the final price is in, it looks like pbf is going to open right now at $28, one of two ipos down that are priced today, solarcity pricing over on the nasdaq that is not yet open. get to more on that shortly. guys, mentioning when will the bond bubble burr president? big topic overnight that i was getting, at least. the feds actually yesterday, yields spiking up, reignited this debate. remember, this was the big call at this time last year, 2012, the year the bond bubble burst. by the way, it
>> right. >> spain. spain? buying bonds one form or another. le ends eventually. my dad had the guy. bill for the house we bought and a rate i used to marvel at when i tried to buy a house the first time in the '80s. we are at the gi bill rates the guys came back from the war. >> bob pisani is here this morning more on what's moving. hey, bob? >> let you know about an ipo pricing down here, pbf energy here operation 20.5 million shares at 26. this looks ready to open at...
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Dec 20, 2012
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we believe that every time italy and spain would have to raise money, go to the debt markets, do those deals, interest rates would shoot through the roof, bankrupting all involved, sovereign countries, companies, banks. instead, by letting cooler heads prevail through can kicking, smart private sector investors kicked the tires, not the cans, and they bought the debt. hit home runs every time they did. as rates came down hard, courtesy of central bank backstops that really did work. the europeans realized if they stopped the can kicking game cold like so many investors claimed they had to do, well, europe would go into severe depression. they didn't want that kind of super austerity, their leaders bought time by kicking the can and that's what was most needed, time. they bought time. how well did it work? considering rates are not only not dramatically higher, they're dramatically lower, and the euro right now, strongest currency in the world. hmm, i thought the euro was supposed to vanish by this time with the germans printing deutschmarks in secret cellars around the country. i thoug
we believe that every time italy and spain would have to raise money, go to the debt markets, do those deals, interest rates would shoot through the roof, bankrupting all involved, sovereign countries, companies, banks. instead, by letting cooler heads prevail through can kicking, smart private sector investors kicked the tires, not the cans, and they bought the debt. hit home runs every time they did. as rates came down hard, courtesy of central bank backstops that really did work. the...
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Dec 15, 2012
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to pay its bills we know there may come a time when we have to do something along the lines of what spain did or ireland or greece, cut back our social programs dramatically. we'll have to do what the rest of europe will do over time, which is accept a lower standard of living forever everybody which is why the longer-term plan is so vital, not the short-term craziness. because everybody knows he we can't keep providing americans with the current level of services unless we raise taxes in a big way on everyone and cut spending somehow. even the democrats are unwilling to consider that kind of tax cut. that's why long-term spending cuts are so important. they figure into the job creation of the next 25 to 30 years, and the ability of people to stay out of poverty longer term. in the meantime, you can't get the growth needed for government receipts to go higher even in the near term. put simply, if you got someone from honeywell or eaton or celgene in the rule, explain the impact. the imperative would be to get this fiscal cliff done before vacation. hey, listen, yes, no vacation without le
to pay its bills we know there may come a time when we have to do something along the lines of what spain did or ireland or greece, cut back our social programs dramatically. we'll have to do what the rest of europe will do over time, which is accept a lower standard of living forever everybody which is why the longer-term plan is so vital, not the short-term craziness. because everybody knows he we can't keep providing americans with the current level of services unless we raise taxes in a big...
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Dec 10, 2012
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spain, same thing, we're seeing 5.67 about the level there. other bond yields are benefiting as a result. back over to you guys. i'm sure carolin, too, can help us try to understand now what this all means with mario monti potentially still involved with the next eye toolan government. that may help reassure the markets somehow. >> thank you very much, kelly. we are looking forward to that. right after this, we will be getting that live report from rome. that's where people are starting to figure out, the politicians are out in force campaigning for life after mario monti. but first, today is forecast to be the busiest shipping day of the year for fedex. yikes, that's a reminder that i am way behind on my shopping. courtney reagan is spending the day at the company's center in the bronx. are the packages flying? >> not yet, but the big sort happens in just about 15 minutes. the kre o fred smith thinks this will be a record day in fedex history. i have the details as fedex fills in for sana clause up next. toward all your financial goals. a qui
spain, same thing, we're seeing 5.67 about the level there. other bond yields are benefiting as a result. back over to you guys. i'm sure carolin, too, can help us try to understand now what this all means with mario monti potentially still involved with the next eye toolan government. that may help reassure the markets somehow. >> thank you very much, kelly. we are looking forward to that. right after this, we will be getting that live report from rome. that's where people are starting...
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Dec 28, 2012
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, just maybe, the worst is finally past, there's some hideous headline out of greece or portugal or spain or italy that the comes back with a vengeance and the s&p gets bashed down by a torrent of selling. that's why it's so important to prepare yourself and your stocks for the next catastrophe around the corner. expected or unexpected, so that you can make money in any market, or at least lose less and not just when things are going smoothly. you have to build this stuff into what i call your world view. you have to assume that somewhere, sometime, something will go wrong. i'm not saying you should be a super skeptic perma-bear, not at all. over the course of my 31-plus years in this business i've seen the averages climb way too way, watched the market make people way too much money to ever be that cynical and close-minded. being negative all the time has not historically been a lucrative strategy, and i don't see any reason why that should change now. there are a handful of incredibly smart, professional short sellers, hats off, able to turn pessimism into profits but i don't recommend
, just maybe, the worst is finally past, there's some hideous headline out of greece or portugal or spain or italy that the comes back with a vengeance and the s&p gets bashed down by a torrent of selling. that's why it's so important to prepare yourself and your stocks for the next catastrophe around the corner. expected or unexpected, so that you can make money in any market, or at least lose less and not just when things are going smoothly. you have to build this stuff into what i call...
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Dec 28, 2012
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we're in the same realm as spain. we're not -- we do not have good optics here. i think it's going to get worse before it gets better. >> craig, you know, i understand that we need a real good kick in the pants, in the fiscal pants if you like, right, to get this house in order. at the same time, if we go over that cliff, this is real money to real people. this is money being taken out of people's paychecks. this is some people losing their unemployment benefits. all kinds of things could happen. how bad could it be? >> well, it certainly could be bad. just as an example of that, if you look at the payroll tax cut alo alone, that doesn't seem to be on the board. that could be an increase in the gasoline tax of $1.25 a gallon. there will be effects, but that has to happen at some point. we've been living on sugar high for too long now. at some point we have to get back to fiscal discipline. there's going to be some pain involved. >> craig, politicians don't get re-elected by not giving out candy. they get elected by giving out candy. >> i agree. i think that's why
we're in the same realm as spain. we're not -- we do not have good optics here. i think it's going to get worse before it gets better. >> craig, you know, i understand that we need a real good kick in the pants, in the fiscal pants if you like, right, to get this house in order. at the same time, if we go over that cliff, this is real money to real people. this is money being taken out of people's paychecks. this is some people losing their unemployment benefits. all kinds of things could...
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Dec 17, 2012
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needs to see the confirmation of europe for this thing to go -- >> but look at what will happen if spain activates the omt. any bank that owns all those sovereign debt are going to fly in europe. that's what people are anticipating. you will get that buy-in. >> we saw the banks fly today. bank america, closing at a 52-week high. bertha's got the latest on that. bertha? >> yeah, it's had a really strong day, b of a, extending those gains right now to an 18-month high. it closed at the highs of the day there at $11 a share. whitney says despite the monster run in financials and b of a up, the big banks are better capitalized and poised to be able to deploy earnings more freely. the feds march c-car will serve as what she calls the near term catalyst. the fed should allow b of a more room to use its capital and she thinks the board could quadruple the dividend. she also had citi and discover financial. whitney will be on with maria to talk about that call tomorrow. >> thank you, bertha. when she speaks, especially when it comes to the bank stocks, the stocks do move. do you buy into this mo
needs to see the confirmation of europe for this thing to go -- >> but look at what will happen if spain activates the omt. any bank that owns all those sovereign debt are going to fly in europe. that's what people are anticipating. you will get that buy-in. >> we saw the banks fly today. bank america, closing at a 52-week high. bertha's got the latest on that. bertha? >> yeah, it's had a really strong day, b of a, extending those gains right now to an 18-month high. it closed...
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Dec 27, 2012
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major problems that we haven't seen lately because of fiscal cliff and the headlines from italy and spain and of course portugal and greece is not finished yet. >> right. >> so there's plenty of problems. we're going to return back to basics after the fiscal cliff. people will say, you know what, i do need some place to put my money. >> probably not in the backyard or under the pillow. thank you for joining us. brian. >>> meantime, big news from d.c. not on the fiscal cliff. it is that epa administrator lisa jackson is stepping down. her term really has been marked by battles over things like the keystone xl pipeline and coal fired power plants. just this month alone the epa has enacted rules that will cost businesses billions of dollars in regulation. that's why some may be saying good riddance. let's bring in robert costas. isn't that harsh? listen, you don't have to agree with her. she had her vision and she went for it. what's wrong with that? >> i think it's not harsh at all. this has been one of the most activist administrators in the obama administration. she comes in in 2009. imme
major problems that we haven't seen lately because of fiscal cliff and the headlines from italy and spain and of course portugal and greece is not finished yet. >> right. >> so there's plenty of problems. we're going to return back to basics after the fiscal cliff. people will say, you know what, i do need some place to put my money. >> probably not in the backyard or under the pillow. thank you for joining us. brian. >>> meantime, big news from d.c. not on the fiscal...
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Dec 5, 2012
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announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. with investment information, risks, fees and expenses try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. wanted to provide better employee benefits while balancing the company's bottom line, their very first word was... [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ]
announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before...
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Dec 8, 2012
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if you look at what happened and what's happening in britain and spain and elsewhere, they have embarked upon deficit reduction. and what that has done is contract their economies when they still have very high unemployment, very high under utilization of a lot of resources that. means that their ratio of their debts to their total economies keeps on getting worse. if you want that kind of economy, that kind of austerity economics, well then what you want to do is raise taxes on the middle class and also cut government spending. if you don't you don't go that way. and casey, with all due respect, there are three people looking for jobs for every job opening these days. i don't see how you can say that they're being paid for not getting jobs. >> casey, why don't we put some incentives into this economy? why don't we make it pay to work after taxes? why don't we make it pay more to invest after tax? while we're doing that, casey, why don't we shrink the size and scope of government so that the private sector can keep its own resources and spend up more wisely than the government will? >> w
if you look at what happened and what's happening in britain and spain and elsewhere, they have embarked upon deficit reduction. and what that has done is contract their economies when they still have very high unemployment, very high under utilization of a lot of resources that. means that their ratio of their debts to their total economies keeps on getting worse. if you want that kind of economy, that kind of austerity economics, well then what you want to do is raise taxes on the middle...
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Dec 20, 2012
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impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you hav
impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. he's going to apply testosterone to...
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Dec 28, 2012
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recession that was in terrible shape to begin with and i think you have a lot of austerity fatigue going on spain, italy, portugal, certainly greece. so you have those economic woes. the euro is not going to thrive and it may survive thanks to the ecb, but you're not going to get that economy to thrive, and the fiscal union ask those are very slow going and though they may be moving quickly by european standards and i've been given the magnitude of the problem going very slowly. >> how should people be thinking about this? the average american, and they've been hearing about it for so long and they're not sure it will affect their pocketbook. do you think they will? >> and there's this incredible chance that greece will leave and the dominos will begin to fall. i think that's unluikely to happen as long as the ecb is willing to support that currency, but will it thrive? will those economies boom? i don't think so, i think it will be another year of recession and you will find individual opportunities and the stock picker's market and far as it's a strong growth, they're not there yet. >> thanks s
recession that was in terrible shape to begin with and i think you have a lot of austerity fatigue going on spain, italy, portugal, certainly greece. so you have those economic woes. the euro is not going to thrive and it may survive thanks to the ecb, but you're not going to get that economy to thrive, and the fiscal union ask those are very slow going and though they may be moving quickly by european standards and i've been given the magnitude of the problem going very slowly. >> how...